#Saudi Arabia

Saudi’s PIF launches real estate registration services company to bolster digitisation

The company aims to build a comprehensive real estate registration database, covering data of property units across the kingdom

Dubai DESC

Oracle’s Dubai cloud region receives DESC certification

Oracle Cloud Infrastructure operates two cloud regions in the UAE – Dubai and Abu Dhabi, providing customers with business continuity and disaster recovery capabilities

Stake

Dubai’s property investment platform Stake raises $8m in pre-series A funding

The company plans to invest the new capital in advancing its product and technology, upscaling its brand, and expanding operations across the region

Saudi's Mawani and ZATCA

Saudi’s Mawani and ZATCA sign deal to regulate joint activities

The deal will be instrumental in supporting the Fasah platform in addition to streamlining operational efficiency and boosting competitiveness at Saudi ports

Saudi Arabia

Wizz Air to launch 20 new routes between Saudi Arabia, Europe

The new flights will connect the Saudi capital as well as major cities with European destinations including Bucharest, Budapest, Milan, Naples, Rome, Venice and Vienna

Saudi Arabia

Saudi Arabia’s oil exports surged to a fresh high in June

The country’s top trading partner during June was China with exports reaching SAR21bn riyals

Agritech UAE

Agritech startup Graze-it launches operations in UAE, Saudi Arabia

By growing sustainable animal feed directly at the consumer’s site, the company aims to solve a major food security challenge in the Middle East

Travel demand returns and so does luggage woes GettyImages-1297964713

UAE, Saudi Arabia travellers prefer premium travel experiences, reveals study

According to Collinson, the most popular travel benefits among respondents were loyalty rewards, airport lounge access and frequent flyer rewards

ACWA Power to build wind farm in uzbekistan_e1653625930619

ACWA Power, Uzbekistan ink three key energy agreements worth $12bn

The projects initiated will support Uzbekistan’s aim to diversify its energy mix, as it targets 8 GW and 12 GW of solar and wind capacity by 2026 and 2030, respectively

World of Farming

UAE venture builder hatch & boost launches agritech startup World of Farming

World of Farming is introducing a first-of-its-kind hydroponic fodder farming methodology for the meat and dairy industry to the Middle East market

Dubai’s DXB records 27.9 million passengers in first six months of the year

DXB handled a total of 154,993 flight movements in H1 2022, up 55.9 per cent compared to the first half of 2021

Al Othaim family

Saudi wealth fund buys $7bn US stocks amid recession fears

The wealth fund is boosting its investments in equities as Saudi Arabia’s income from oil almost doubled in the second quarter

Global cybersecurity Forum

Saudi’s NCA to host Global Cybersecurity Forum in November

Two-day forum will be held in Riyadh bringing together policymakers, governments, business, cybersecurity experts, academia and NGOs

Saudi permits all types of visa holders to perform Umrah

The decision coincides with the start of the Umrah season for the current year

Saudi mining giant Ma’aden reports Q2 net profit increase of 265% to reach SAR4bn

Saudi mining giant Ma’aden reports H1 net profit increase of 232% to reach SAR6.2bn

The mining company reported that sales rose 95 per cent quarter-on-quarter to SAR11.9bn, bringing H1 2022 sales to SAR20.8bn, an 80 per cent improvement on H1 2021

Saudi Aramco plans to go big carbon storage

Saudi Aramco plans to go big on carbon storage

Saudi Aramco plans to begin permanently storing carbon dioxide from 2026 in one of the largest facilities of its kind, as the state oil giant seeks to reach its goal of net-zero emissions by 2050

Saudi Arabia launches program to develop cybersecurity sector

National Cybersecurity Authority launches ‘CyberIC’ in Saudi Arabia

The first phase of CyberIC aims to increase the number of cybersecurity startups in the sector by assisting more than 60 national companies

Saudi wealth fund starts company for Egypt investments

The company will invest in swathes of Egypt’s economy from infrastructure and real estate to pharmaceuticals

Ministry of Investment in Saudi Arabia signs MoU with French company Alstom

The MoU aims to explore the future of sustainable transport in the kingdom and identify investment opportunities in railway infrastructure

Saudi Arabia retail sector shows recovery in H1 2022

Domestic demand, spending boosts growth in Saudi Arabia’s retail sector in H1 2022: JLL

For the months of April and May, the value of point-of-sale transactions jumped by 16 per cent year-on-year to a total of SAR91.8bn across the kingdom as a whole

Gulf deals

Cash-rich Gulf funds splurge on mega deals as liquidity dries up

The region’s largest sovereign wealth funds have been involved in at least $28.6bn worth of acquisitions outside the Middle East and Africa this year

luxury e-commerce

An overview of the Middle East fintech landscape

The Middle East has seen an influx of fintech startups, new funding and increased support for existing and new ventures

Saudi Arabia and Greece sign MoU

Saudi Arabia and Greece sign agreements on energy, security, telecom, digital economy

Saudi Arabia’s Crown Prince Mohammed bin Salman is on a two-day official visit to Greece

BinDawood acquisition

BinDawood Holding to acquire stake in French influencer marketing agency

Ykone is an influencer marketing agency focused on travel, beauty, fashion and luxury brands

Twitter Saudi Arabia

Twitter unveils key trends shaping the Saudi conversation in 2022

The report highlights emerging opportunities for brands and marketers to connect with audiences

UAE and Korea discuss cooperation in food security, health, technology

UAE and Korea discuss cooperation in food security, health, technology

Their discussion took place during the virtual ‘UAE-Korea Investment Business Forum’ organised by the Ministry of Economy

Mclaren

McLaren raises $150m from shareholders with cash low

Shareholders include Bahrain’s sovereign wealth fund Mumtalakat, investment firm Ares Management Corporation and Saudi Arabia’s Public Investment Fund

Saudi Investment

Venture capital investments in Saudi Arabia record SAR2.19bn

According to the ‘H1 2022 Saudi Arabia Venture Capital Report,’ this figure surpassed the total amount deployed in 2021

Oil August 1

Saudi crude exports set to rise in July on stronger China flows

Shipments for June were the lowest since September

CNNB Solutions

UAE e-commerce firm CNNB Solutions expands to Kuwait

The company supports brands with their e-commerce and direct-to-consumer strategies, to help them reach more customers